Leveraging Analytics to Enhance Sales at NICE Nexidia

Technological advances are providing more and more opportunities for sales organizations to enhance sales and on this episode, Rachel Stuve, Sr. Business Analytics Manager at NICE Nexidia explains one of the ways it’s happening. Nexidia Analytics enables brands to unlock the untapped value inside the massive amounts of unstructured audio they possess – mostly phone conversations between customers and sales agents. By utilizing their analytics technology, they are able to better understand what’s really being said by their customers, what products are really selling and not selling, and most importantly, why. As a result, the brand can identify opportunities to cross-sell, upsell, and increase operational efficiency and new business opportunities.

If this sounds too good to be true, wait till you hear the real-world examples Rachel shares about how their analytics is enhancing sales for real customers.

The Social Business Journal Volume 11 is a case study in Savvy Social Selling the SAP Way. This case study is available for download without a form to complete – it’s ungated – just click to open the PDF in your browser at www.Vengreso.com/sap.

How Neuro Phonetic Speech Analytics Can Enhance Your Sales

For years companies have been answering customer service calls, inbound sales calls, and conducting surveys to discover how prospects and customers actually feel about their products. But until now the findings have been entirely dependent on what the employee on the phone line understood the customer to mean. No more.

NICE Nexidia has developed a technology – Neuro Phonetic Speech Analytics – that can analyze the actual sounds of the language contained in recorded phone calls and related data, interpret it accurately, and convert it into searchable data. Can you imagine the sales implications of that kind of data? Listen to this episode to hear Rachel Stuve describe actual customer experiences that demonstrate how this data analytics is being used to enhance sales in amazing ways.

Demonstrating The Effectiveness Of Nexidia’s Solution

What’s the best way to experience the effectiveness of a technology solution that promises to increase and enhance your company’s sales process? How about a “proof of concept” demonstration using your own data?

Rachel Stuve explains how NICE Nexidia uses the unstructured data of prospective customers to demonstrate how powerfully their analytics service is, and how the use of that data can increase sales conversions by 50%. Listen to hear the entire story and to understand how this technology enables brands to get a 360 view of their customer’s buying journey.

Taking The Human Interpretation Of Data Out Of The Sales Equation

It is all too common for misperceptions to happen in customer-facing sales interactions. We humans don’t always hear what we think we hear and we don’t always notice the deeper issues behind the words customers or prospects say to us. The result is that sales conversations, surveys, and customer service calls wind up with conclusions about customers that are not always accurate.

The shining strength of the NICE Nexidia technology is that it interprets audio sales conversations. The detailed things customers and prospects actually say can be analyzed in ways that enable real issues and objections to be identified and effectively addressed. The Nexidia system supplies sales prompts to salespeople from the data it has analyzed, enabling them to inject deeply relevant responses into the sales conversation, oftentimes resulting in as much as a 4X increase in effectiveness. Rachel shares more details about how the system works and explains why it’s so effective, on this episode.

Understand The Customer Journey To Provide a 50% Increase In Conversions

What impact would it have on your sales team’s conversations if you were able to pull together data from every angle of a customer’s buying journey? If you take the time to consider the question on even an elementary level you’ll understand that data of that kind would give you an incredible sales advantage. You’d be able to speak to your prospects in ways that take into account everything they’ve experienced in their sales journey and speak directly to them, where they are in their relationship with your brand.

NICE Nexidia enables that 360-degree view of the customer’s buying journey to be yours through their Neuro Phonetic Speech Analytics platform. Bernie’s guest on this episode, Rachel Stuve explains how the system works, provides two real-life use cases to demonstrate how powerfully it enhances sales, and reveals how you can make profitable use of the unstructured data that’s been sitting in your computer servers for years to increase sales conversions. Don’t miss this episode!

Outline of This Episode

[8:46] What Nexidia analytics provides to customers: a proof of concept approach

[11:48] How sales departments are supported by the analytics provided

[14:24] A real life customer use case: using analytics to get a 4X gain on revenue in 1 year

[18:15] A 360 degree understanding of the customer’s journey

[25:42] Structuring unstructured data to make it useful and powerful

Resources & People Mentioned

The Social Business Journal Volume 11 is a case study in Savvy Social Selling the SAP Way. This case study is available for download without a form to complete – it’s ungated – just click to open the PDF in your browser at www.Vengreso.com/sap.

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Bernie Borges

Bernie Borges is CMO of Vengreso, the leader in digital sales transformation. He's also Host of the award winning Modern Marketing Engine podcast. His book Marketing 2.0, was an early playbook in social media strategy. Bernie is also a trainer and speaker. He has a passion for guiding clients in aligning marketing and sales for accelerated revenue results. Bernie enjoys kayaking with his family in Tampa Bay, going to hockey games and you'll find him at the gym at 6am Monday through Friday, rain or shine.